Chairman Fawaz Al Hasawi said on the club's website: "I'm bitterly disappointed - as is Alex - it has not worked out."

Recent reports speculated that he was considering his future despite only joining the club on 27 December.

The former Villa boss was frustrated after failing to sign several of his transfer targets last month - most notably Peterborough winger George Boyd whose move to the City Ground was scuppered by a failed eye test.

McLeish’s final game in charge was Saturday’s 2-1 defeat against Birmingham City.

He was sacked by Aston Villa in May 2012 after 11 months at the helm before he joined the Nottingham club.